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THE RESIDENCES ARE NOT OWNED, DEVELOPED OR SOLD BY, OR UNDER COMMON OWNERSHIP OR CONTROL WITH HARD ROCK HOTEL LICENSING, INC. OR HARD ROCK CAFÉ INTERNATIONAL (USA) INC., OR ANY OF THEIR AFFILIATES (COLLECTIVELY, “HARD ROCK”). 1031 CANAL DEVELOPMENT, LLC (“DEVELOPER”) USES THE HARD ROCK TRADEMARKS UNDER A LICENSE AGREEMENT, WHICH LICENSE AGREEMENT MAY BE TERMINATED IN ACCORDANCE WITH THE TERMS AND CONDITIONS THEREOF. THE LICENSE AGREEMENT IS LIMITED IN DURATION AND THERE IS NO GUARANTY OR OTHER ASSURANCE OF ANY KIND THAT THE HARD ROCK HOTEL OR THE RESIDENCES AT THE HARD ROCK HOTEL WILL CONTINUE TO BE ASSOCIATED WITH THE HARD ROCK SYSTEM FOR ANY PERIOD OF TIME. RESIDENCE OWNERS WILL NOT OWN ANY INTEREST IN THE LICENSE AGREEMENT, IN HARD ROCK OR IN THE HOTEL LICENSE AGREEMENT BETWEEN HARD ROCK AND DEVELOPER. THE RESIDENCES PURCHASED BUT NOT PARTICIPATING IN THE RENTAL MANAGEMENT PROGRAM WILL NOT BE PART OF, OR OPERATED AS PART OF THE HOTEL, ALTHOUGH SUCH UNITS WILL BE LOCATED WITHIN THE SAME BUILDINGS AS THE RESIDENCES THAT ARE PART OF THE HOTEL. THE RESIDENCE OWNERS AND PURCHASERS OF THE RESIDENCES WILL OBTAIN NO RIGHT TO ANY LICENSE AGREEMENT OR TO ANY HARD ROCK TRADEMARKS AND WILL NOT BE PERMITTED TO REFER TO OR UTILIZE ANY HARD ROCK TRADEMARKS IN CONNECTION WITH ANY RESALE, RENTAL OR OTHER USE OF THEIR RESIDENCE. HARD ROCK HAS NOT PARTICIPATED AND WILL NOT PARTICIPATE IN ANY MANNER IN THE SALE AND MARKETING OF THE RESIDENCES AND HAS NOT AND WILL NOT ACT AS A BROKER OR AGENT IN CONNECTION WITH ANY CLOSING. HARD ROCK HAS NOT IN ANY WAY PASSED ON THE MERITS OF, OR THE MATTERS SET FORTH IN, THIS ADVERTISEMENT OR ANY MARKETING MATERIALS.